W. Africa Monetary Union to reform CFA franc, keep euro peg

Abidjan: The West African Economic and Monetary Union (UEMOA) has agreed with France to a number of changes to the CFA franc currency, including a new name, Ivory Coast’s President Alassane Ouattara said Saturday, as the West African bloc inches closer to a split from the French-backed currency. The monetary union will move its currency […]

Etisalat introduces MEC technology

ABU DHABI: Etisalat on Sunday announced the successful deployment of a multi-access edge computing, MEC, which will pave the way for the telecommunications entity to roll out new 5G-styled services, beginning with its content delivery network, CDN. MEC is a network architecture that brings real-time, high-bandwidth, low-latency access to radio network information, allowing operators to […]

ADGM, Ma’an to develop sustainable financial programmes

Abu Dhabi: Abu Dhabi Global Market (ADGM) has signed a Memorandum of Understanding (MoU) with the Authority of Social Contribution — Ma’an — that will see both entities working together on a number of sustainable financial programmes. According to the MoU, the agreement commits both organisations to work together in support of Ma’an’s social incubator […]

Tesco halts Christmas card production after China inmate message

LONDON: Supermarket giant Tesco said Sunday it has stopped production at a factory in China after one of its Christmas cards was found to contain a cry for help from a prisoner who made it. The Sunday Times newspaper reported that a girl in south London had opened a card last weekend to find a […]

MySyara acquires car wash app for $2.8m

Dubai: MySyara, an online provider of automotive services in the UAE, announced the acquisition of SKKYN Technologies, an on-demand car wash app, for $2.8 million (Dh10.27 million). MySyara (Arabic for ‘my car’) launched apps earlier this year on iOS and Android phones, and says it is the Middle East’s first car maintenance app, providing users […]

Swiss firm suspends Nord Stream 2 pipeline work over US sanctions legislation

BERLIN: A company that operates ships laying sections of a new German-Russian pipeline said Saturday that it is suspending those activities after the approval of US legislation threatening sanctions. President Donald Trump on Friday signed legislation passed earlier this week by the Senate that provides for sanctions against companies involved in laying the Nord Stream […]